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Traction Uranium Announces Completion of Technical Report on Key Lake South Project
CALGARY, Alberta, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to annou
About this update from Traction Uranium Corp
[{"type":"text","content":" CALGARY, Alberta, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce, further to its press release dated May 17, 2023, that Aurora Geosciences Ltd. (“Aurora”) has completed a Technical Report in respect of the Key Lake South Property (“KLS Property”) pursuant to National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) . Drilling The 2023 program was comprised solely of an 1,838 m diamond drilling program in 12 holes, covering numerous widely spaced targets in the northeastern area of the property. At each hole, a down-hole gamma ray survey was performed to test for gamma radiation, including readings through overburden, to test for glacially transported or other surficial radioactive material. Summary of the Technical Report The majority of anomalous thorium (Th) intercepts are associated with rare earth elements (REEs), locally returning strongly anomalous values. Many of these intercepts are pegmatite-hosted, although amphibolite and structurally-hosted intercepts also occur. The northwestern property area, including hole KLS23-007, is the most favourable area for Uranium and REE mineralization. The area around KLS23-007 is along trend of the structural feature underlying the Key Lake deposits to the northeast, extending to anomalous Th-REE mineralization drilled in 2008 to the SW. Hole KLS23-008, collared southwest of KLS-007, pierced the contact of Upper Wollaston Group orthogneiss with underlying Lower Wollaston Group metapelites. A short interval of anomalous Thorium-REE values occurs directly below the contact. Anomalous Th-REE values from the 2008 drilling are hosted by pegmatites within metapelites. Uranium, Th-REE mineralization may provide an alternate exploration target at Key Lake South. Recommendations of the Technical Report Phase 1 surface soil geochemical program is recommended to test for overburden-hosted mineralization identified from down-hole gamma ray probe testing of KLS23-007. The objective will include testing its lateral surface extent up-ice from the drill collar. This program should be combined with further geological mapping in areas of bedrock or rubblecrop exposure. About the Property The KLS Property is located approximately 6 kilometers to the southwest of the Key Lake ur...